Sudanese pound

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Sudanese pound
جنيه سوداني (Arabic)
SUDAN.png
Current coins
ISO 4217 code SDG
Central bank Central Bank of Sudan
 Website www.cbos.gov.sd
User(s)  Sudan
Inflation 31.9%
 Source The World Factbook, 2012 est.
Subunit
 1/100 qirsh (piastre)
Symbol ج.س.‏
Coins 1, 5, 10, 20, 50 piasters, 1 pound[1]
Banknotes 1, 2, 5, 10, 20, 50 pounds

The Sudanese pound (Arabic: جنيه سوداني Junaih Sudani) is the currency of Sudan and also used in South Sudan until finalization of the introduction of the South Sudanese pound. Both Arabic and English names for the denominations appear on the country's banknotes and coins.

History[edit]

First pound (SDP)[edit]

The first pound to circulate in Sudan was the Egyptian pound. The late 19th century rebels Muhammad ibn Abdalla (the Mahdi) and Abdallahi ibn Muhammad (the Khalifa) both issued coins which circulated alongside the Egyptian currency. When Anglo-Egyptian rule in Sudan ceased and Sudan became an independent country, a distinct Sudanese currency (the Sudanese pound) was created, replacing the Egyptian pound at par.

The Egyptian pound was subdivided into 100 qirush (Arabic: قروش, singular qirsh, قرش, English: piastre). The qirsh used to be subdivided into 40 para, but decimalisation following the 1886 Egyptian currency reform established a 1/10 qirsh, which came to be known as a millim (ملّيمات, singular: ملّيم). Due to this legacy, the post 1956 Sudanese pound was divided into 100 qirush, subdivided into 10 millims.

During 1958-1978 the pound was pegged to the U.S. dollar at a rate of $ 2.87156 per Sudanese pound. Thereafter, the pound underwent successive devaluations.

The pound was replaced in 1992 by the dinar (SDD) at a rate of 1 dinar = 10 pounds. While the dinar circulated in northern Sudan, in Southern Sudan, prices were still negotiated in pounds, whilst in Rumbek and Yei, the Kenyan shilling was used and accepted more within the transport sectors as well as for hotels/accommodation.

Second pound (SDG)[edit]

According to the Comprehensive Peace Agreement between the Government of the Republic of The Sudan and The Sudan People's Liberation Movement, the Central Bank of Sudan (CBOS) shall adopt a program to issue a new currency as soon as is practical during the Interim Period. The design of the new currency shall reflect the cultural diversity of Sudan. Until a new currency has been issued with the approval of the Parties on the recommendations of the CBOS, the circulating currencies in Southern Sudan shall be recognised. The second pound began introduction on 9 or 10 January 2007, and became the only legal tender as of July 1, 2007.[2][3][4] It replaced the dinar at a rate of 1 pound = 100 dinar or 1 pound (SDG) = 1000 pound (SDP).

Third pound[edit]

The third edition of the Sudanese Pound was established on 24 July 2011 following the secession of South Sudan from the Republic of Sudan.[5][6]

For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.

Coins[edit]

Local coinage in Sudan: issues of the Mahdi and Khalifa and of Darfur[edit]

In 1885, the Mahdi issued silver coins for 10 and 20 qirush and gold 100 qirush. These were followed by issues of the Khalifa in denominations of 10 para, 1, 2, 2½, 4, 5, 10 and 20 qirush. These coins were initially minted in silver in 1885. Over the following eleven years, severe debasement occurred, leading to billon, then silver-washed copper and finally copper coins being issued. The coinage ceased in 1897.

During 1908-1914, a local coinage was issued in Darfur in western Sudan. These were issued under the authority of Ali Dinar and resembled contemporary Egyptian coins.

First pound[edit]

In 1956, coins were introduced in denominations of 1, 2, 5 and 10 millim, 2, 5 and 10 qirush. The millim denominations were struck in bronze, whilst the qirush denominations were in cupro-nickel. The 2, 5 and 10 millim were scallop shaped, although a round 5 millim was introduced in 1971. The 1 and 2 millim were last struck in 1969, the last 5 millim in 1978. In 1983, brass 1, 2 and 5 qirush, a reduced size 10 qirush and a cupro-nickel 20 qirush were introduced. In 1987, aluminium-bronze 1, 5, 10, 20, 25 and 50 qirush and 1 pound were introduced, with the 25 and 50 qirush square and octagonal in shape, respectively. In 1989, stainless-steel 25 and 50 qirush and 1 pound were issued. This is the general pattern, in addition to these coins there are collector-oriented issues and various oddities. See popular coin catalogues for details.

Sudanese dinar[edit]

See Sudanese dinar.

Second pound[edit]

Coins in denominations of 1, 5, 10, 20 and 50 qirush were introduced alongside the circulating dinar coins. The Central Bank of Sudan states that the 5 qirush coins are yellow coloured (perhaps aluminium-bronze) and the 10 qirush is silver coloured (made of stainless steel). The 20 and 50 qirush coins are bi-metallic, with the 20 qirush yellow ringed with a silver coloured centre and the 50 qirush the opposite.

Third pound[edit]

A 1 pound coin is awaited.[7] It remains to be seen if the coins of the second pound will be replaced with new coins, or the coins will remain unchanged.

Banknotes[edit]

First pound[edit]

25 qirush of the first pound
Sudan 25pt Rewers.JPGSudan 25pt Awers.JPG
Obverse Reverse

In April 1957, the Sudan Currency Board introduced notes for 25 and 50 piastres, 1, 5 and 10 pounds.[8] Note production was taken over by the Bank of Sudan in 1961. 20-pound notes were introduced in 1981, followed by 50 pounds in 1984 and 100 pounds in 1988.[9] .

Sudanese dinar[edit]

When introduced on 8 June 1992, the Sudanese dinar replaced the first Sudanese pound at a rate of 1:10.[8]

Questionable new notes[edit]

In 2005, National Public Radio reported that forces in Southern Sudan were printing pound notes bearing the name "Bank of New Sudan", but there is no such bank. In addition, numbers of the banknotes had duplicate serial numbers. Their legitimacy is questionable.[10][11][12][13]

Second pound[edit]

When introduced on 10 January 2007, the second Sudanese pound replaced the Sudanese dinar at a rate of 1:100. This new currency was mandated by the 2005 Comprehensive Peace Agreement signed between the Sudanese government and the Sudan People’s Liberation Movement to end the country’s 21- year civil war. Deputy Governor Badr-Eddin Mahmoud said the cost to print the new currency was US$156 million.[8] Banknotes of 1, 2, 5, 10, 20 and 50 pounds were issued.[3] The 1-pound note was replaced by a coin at the end of November 2011.

Banknotes of the Sudanese pound (2006 issue)
Image Value Obverse Reverse Watermark Date of issue
[1] 1 Sudanese pound Central Bank of Sudan building, Khartoum; Pigeon Pigeons Pigeon and electrotype LS 1 July 9, 2006
[2] 2 Sudanese pounds Pottery Musical instruments Pigeon and electrotype LS 2 July 9, 2006
[3] 5 Sudanese pounds Ornate wall; satellite Hydroelectric dam Pigeon and electrotype LS 5 July 9, 2006
[4] 10 Sudanese pounds Tree in Tabaldia, clasped hands, watusi cattle, mountains, and camel People's Palace, Khartoum Secretary bird and electrotype LS 10 July 9, 2006
[5] 20 Sudanese pounds Machinery; oil derricks Factory; radio antenna; fruit (bananas, papayas, flowers, pineapples, citrus, grapes, corn) Secretary bird and electrotype LS 20 July 9, 2006
[6] 50 Sudanese pounds Wildlife (rhinoceros, elephants, ape in tree, water buffalo, zebras, and giraffe) Sheep, cow, goat, camels Secretary bird and electrotype LS 50 July 9, 2006

Third Pound[edit]

Banknotes of the third pound are similar in style to those of the second pound but with changes in colour scheme, the removal of certain symbols associated with the south and a redrawn map of the country after the secession of the south.[7]

Banknotes of the Sudanese pound (2011 Modified colors issue)
Image Value Obverse Reverse Date of issue
[7] 2 Sudanese pounds Pottery Musical instruments June 2011
[8] 5 Sudanese pounds Ornate wall; satellite Hydroelectric dam June 2011
[9] 10 Sudanese pounds Tree in Tabaldia, clasped hands, mountains, and camel People's Palace, Khartoum June 2011
[10] 20 Sudanese pounds Machinery; oil derricks Factory; radio antenna; fruit (bananas, papayas, flowers, pineapples, citrus, grapes, corn) June 2011
[11] 50 Sudanese pounds Wildlife (rhinoceros, elephants, ape in tree, water buffalo, zebras, and giraffe) Sheep, cow, goat, camels June 2011
Current SDG exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD

See also[edit]

References[edit]

  1. ^ Sudan 1 pound 2011 worldcoinnews.blogspot.com. Retrieved 2012-05-31.
  2. ^ "New Sudan currency to circulate from January 10". Reuters – AlertNet. 2007-01-08. Retrieved 2007-01-10. 
  3. ^ a b Bank of Sudan. "The new Sudanese currency". Archived from the original on 2007-01-04. Retrieved 2007-01-10. The new currency shall start circulation on January 9th. 
  4. ^ Sudan Vision Daily (2006-02-16). "Peace: The Presidency of the Republic: Implementation of the CPA in the Year 2005". Retrieved 2006-07-19. 
  5. ^ http://www.newsday.com/business/sudan-rolls-out-new-currency-after-separation-1.3047946
  6. ^ "Sudan launches a new currency, following South Sudan". BBC News. 2011-07-24. 
  7. ^ a b http://www.albawaba.com/north-sudan-launches-new-currency-economically-troubled-waters-384581
  8. ^ a b c Linzmayer, Owen (2013). "Sudan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  9. ^ http://www.islamicbanknotes.com/
  10. ^ National Public Radio (2005-05-31). "Photo of some of the 200 pound notes". Retrieved 2006-07-19. 
  11. ^ National Public Radio (2005-05-31). "Peace Also Brings New Currency to Southern Sudan". Retrieved 2006-07-19. 
  12. ^ New Sudan high denomination notes sought BanknoteNews.com. Retrieved 2012-05-22.
  13. ^ The Elusive Banknotes of New Sudan www.pjsymes.com.au. January 2011. Retrieved on 2014-03-09.

External links[edit]

1st Sudanese pound
Preceded by:
Egyptian pound
Reason: independence (in 1956)
Ratio: at par
Currency of Sudan
1957 – June 8, 1992
Succeeded by:
Sudanese dinar
Location: Northern Sudan
Reason: inflation
Ratio: 1 dinar = 10 (1st) pounds
Currency of Southern Sudan
1992 – January 2007
Note: see Second Sudanese Civil War
Succeeded by:
2nd Sudanese pound
Location: Southern Sudan
Reason: currency unification (peace treaty)
Ratio: 1 (2nd) pound = 1,000 (1st) pounds
2nd Sudanese pound
Preceded by:
Sudanese dinar
Location: Northern Sudan
Reason: inflation and currency unification (peace treaty)
Ratio: 1 (2nd) pound = 100 dinars
Currency of Sudan
January 2007 – 2011
Succeeded by:
Third Sudanese pound
Location: (North) Sudan
Reason: independence of South Sudan
Ratio: at par
Preceded by:
1st Sudanese pound
Location: Southern Sudan
Reason: currency unification (peace treaty)
Ratio: 1 (2nd) pound = 1,000 (1st) pounds
Succeeded by:
South Sudanese pound
Location: South Sudan
Reason: independence of South Sudan
Ratio: at par